Can anyone help me with my credit score?

Question

My husband and I are trying to buy a house in the next year or so. We both have a lot of chargeoffs. I have spoke withe the creditors all 12 of them some say they will except 25 per monthh and the other say they won't except 25. The one's that won't except 25.00 will except 75.00. I can't do that because we have 11 others to pay. Can they really refuse my payment?? What should I do? The chargeoffs are from previous marriages.

I'm not applying. I am trying to take care of some chargeoff and help my score go up so we can buy a house in a couple of years. Maybe even a year.

Answer 1

Hi, here are some links which should have what you are
looking for, from the Law's point of view:
http://credit-cards.ebookorama.com
and here http://finance.ebookorama.com
also plenty more to read here
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!

Answer 2

Ok. Follow my lead and you will be paid off in no time. If you planned to pay $25 month for 12 creditors that is what $300.00 month. Give the first 3 creditors $75.00 month and the second 3 $25.00 month. Don't freak I know you said 12 but they are already charged off so they can wait a little while longer. You will be paying the first 3 $900 over 12 months. The second 3 will get $300 over 12 months. Now hopefully you dont owe that much on all of your charge offs. If you do just keep paying. Now when the first $75 month bill is paid off tack that payment onto the second $75/mo bill and give them $150/mo. This will get them paid quicker. When that is paid move to the 3rd $75 month bill and give them the $75/mo times 3 ($225 month) until they are paid. All the while paying $25 on the other 3 every month. When the 3 bills at $75 month are paid start sending the 3 $25 month bills $75/month and transfer the $25/mo payments to the next 3 bills on the list. Just keep paying and rolling over the payments and you will be paid off in no time. We had to do the power payoff to get our bills paid to get in our new house. Its better to pay them off one at a time than to pay each one little by little because they are usually still charging delinquent fees or finance charges.

Answer 3

First thing I would recommend is to check the collecting statute of limitations (SOL) in your state.

If you are out of SOL, you are not legally bound to pay them.

Opt out and update the personal info on your credit reports. Have old or incorrect addresses, names etc deleted or corrected.

If you are dealing with collection agency's, send them a debt validation letter. Make sure that not only do they actually have the debt, but if the amount they are requesting is the actual true amount.

Never try to make deals with them on the phone. Always deal with them by mail and send everything certified mail return receipt. Create a papertrail.

Always request that they delete anything they have put on your reports after payment. Also request to pay a percentage of the debt as payment in full. Even request it if you aren't going to pay the percentage in a lump sum payment, but by making payments.

They can refuse a payment that you offer, depending on how much you owe. If the payment you offer would take years for them to get paid, they won't go for it.

You might check out the site I've listed. Do some reading in the Newbie Forum first and then in the Credit Forum. Learn how to deal with the collectors and the credit bureaus.

Answer 4

List all your debt's smallest to largest. Pay the minimum on the all but the smallest and pay all you can to that one. When the smallest one is paid off go to the next one. And keep doing the same thing it is called the Debt Snowball and it works. I would suggest Reading A book by Dave Ramsey Called Financial Peace you can get it at any book store or library. He explains the Debt snowball in great detail as well as how and why it works.
Good luck to you hope that helps.

Answer 5

Echo is on the right track here.

How old are these debts? If they are 4-6 years old then they have gone over the Statute of Limitation dates, and you don't even have to pay them. After 7 years, they automatically drop from your credit report.

Therefore, consider this plan of attack. Lets try to hold off on buying a home for 2 years.

Write down all of your debts in order of age. When was the last transaction on these accounts (payment, or charge)?

Any debts that are older then 5 years ignore them. They will be deleted from your credit history and won't effect your future mortgage plans.

Those near 5 years old, examine your state SOL and see if you still have a legal obligation to pay them. If they are out of SOL, ignore them.

Now work on the rest, explain to each creditor that you want to pay these debts, but they need to work with you. You only have $300 a month to apply to all of them, so if everyone will work with you, they all get paid. Those that still want to give you a hard time, ignore. In the future you may be able to re-negotiate a settlement with them.

Above all...remember that even though you pay a debt, it does NOT automatically get removed from your credit history. It may now show "paid" but it will still have notations about late fees or collections.

Get the creditors to agree IN WRITING to remove the listing once you have paid the debt. Get this before you pay them a dime. Remember, you are trying to fix your credit by paying these guys off....without this agreement you will not be doing a bit of good.

Answer 6

First, what state do you live in,?
Second Quit trying to apply for credit, everytime you do it hits on the credit score. sending it lower. Especially if you are turned down.
please e-mail me for further information.